FX.co ★ Wabash National Maintains FY24 Outlook; Q1 Results Miss Estimates

Wabash National Corporation maintained its full-year 2024 earnings forecast when it announced its first-quarter financial results on Wednesday. This follows delays in the first quarter's shipments which will impact subsequent quarters.

For fiscal year 2024, the firm continues to estimate earnings of between $2.00 and $2.50 per share, with revenues projected at approximately $2.2 billion to $2.4 billion.

On average, three analysts surveyed by Thomson Reuters anticipate that the company will report earnings of $2.19 per share and revenues of $2.25 billion for the year. Analysts usually exclude special items from their estimates.

In the first quarter, the company posted a net income attributable to its common shareholders of $18.17 million, or $0.39 per share, which is a significant decrease from $51.21 million, or $1.04 per share, from the same quarter the previous year.

The company's net sales for the quarter also dipped by 17.0 percent, declining to $515.28 million from the previous year's first-quarter result of $620.95 million.

Wall Street had expected earnings of $0.45 per share and net sales of $516.85 million for the first quarter.